NASHVILLE, Tenn. (WBBJ) – Gas prices are slowly shifting to less expensive as they have fallen three cents since last week.
“Crude oil prices shifted slightly lower over last week, which led to small declines in pump pricing across the state,” said Megan Cooper, spokeswoman for AAA – The Auto Club Group. “August typically signals a seasonal downward shift in pump prices as kids return to school and summer road trips wind down. Uncertainty in the global market and elevated crude oil prices could affect the timing of the seasonal shift this year. It’s likely that Tennesseans will continue to see fluctuations in pump pricing in the short term.”
National Gas Prices
The average for a gallon of gas nationally is $4.09, two cents cheaper compared to last week. Oil prices remain the same at $80 per barrel due to instability along the Strait of Hormuz. Gas prices are almost a dollar more than they were at this time last year.
According to new data from the Energy Information Administration (EIA), gasoline demand increased last week from 8.94 million to 9.04 million. Total domestic gasoline supply remained flat at 211.3 million. Gasoline production increased last week, averaging 9.9 million barrels per day.
National Oil Market Dynamics
WTI rose $5.20 to settle at $84.46 a barrel after the meeting Wednesday. The EIA reports that oil inventory decreased by 7.2 million barrels from the week before. At only 404.5 million barrels, U.S. oil inventories are about to be 7% below the five-year average for the time of year.
Tennessee Regional PricesMost expensive metro markets – Jackson ($3.80), Memphis ($3.74), and Kingsport ($3.69)Least expensive metro markets – Clarksville ($3.44), Chattanooga ($3.75), Knoxville ($3.62)Neighboring Cities Gas PricesNashville: $3.679, down 0.03 cents from last weeks $3.708.Memphis: $3.745, down 0.005 cents from last weeks $3.750.Chattanooga: $3.578, down 0.08 cents from last weeks $3.655.Gas Price Survey Methodology
AAA updates fuel price averages daily at www.GasPrices.AAA.com. Every day up to 130,000 stations are surveyed based on credit card swipes and direct feeds in cooperation with the Oil Price Information Service (OPIS) and Wright Express for unmatched statistical reliability. All average retail prices in this report are for a gallon of regular, unleaded gasoline.
Copyright 2026 WBBJ. All rights reserved.